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ECB : Changes in Tender Procedure in Europe - News from Entrepreneurs & Co on Euro Business Development
- By Didier Delmer
- Published 11/10/2008
- Economy, Markets
-
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Didier Delmer
"Who are we ?"
Company Profile :
Entrepreneurs and CO Ltd
145-157 St John Street - London EC1V 4PY
Chartered Accountants & Business Advisers, at Entrepreneurs & Co (ENC), we appreciate the value of working together as a team.
Because the flow of ideas is encouraged at ENC and everyone feels free to express their opinion with regard to work related matters it has by the very nature of being, created a dynamic work environment. As a team we all recognise our responsibility in making Entrepreneurs and Co what it is.
The reputation of the whole firm is in the hands of each individual and we are proud of being part of such a strong team. Together we encourage and motivate each other in a dynamic environment so that as a team we can provide innovative and profitable solutions for individuals and businesses.
Services
Every client is unique and deserves a unique service. Our philosophy is to put our clients first - to understand their situation and provide a first class service tailored to their specific needs.
Because we establish a one-to-one relationship with each client we are able to offer timely, individual advice on how to improve your business or personal finances.
As leading edge accountants we have developed the traditional bookkeeping, auditing, and accounting services into innovative client-focused services that provide not only all the reliable background support you would expect from a professional firm but also forward-thinking advice on how to improve your situation.
We have also developed a new range of accounting services to meet the needs of modern businesses, including a comprehensive business advisory service. Whether you need help with growing your business or advice on optimising your personal or family finances, we are here to help you get the best results.
- As from the operation settled on 15 October, the weekly main refinancing operations will be carried out through a fixed rate tender procedure with full allotment at the interest rate on the main refinancing operation, i.e. currently 3.75%.
- As of 9 October, the ECB will reduce the corridor of standing facilities from 200 basis points to 100 basis points around the interest rate on the main refinancing operation. Therefore, as of 9 October, the rate of the marginal lending facility will be reduced from 100 to 50 basis points above the interest rate on the main refinancing operation, i.e. currently to 4.25%, and the rate of the deposit facility will be increased from 100 to 50 basis points below the interest rate on the main refinancing operation, i.e. currently to 3.25%.
The two measures will remain in place for as long as needed, and at least until the end of the first maintenance period of 2009, on 20 January.
The ECB will continue to steer liquidity towards balanced conditions in a way which is consistent with the objective to keep short term rates close to the interest rate on the main refinancing operation.
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